Yes, if before completion and DIBS expired, you have to pay the interest yourself and claim the LAD afterwards. It's really very unethical for developer not to follow what's written in S&P. It's just like S&P is useless and developer takes advantages on it knowing majority of the purchasers will accept it and not willing to spend long time to fight it. Well that's life....The bigger you are, the more powerful you are......

I suggest you listen to the advise of the seniors here and just take the discounted price to save you time and agony unless u feel that a few 1-2k more is worth your time going to tribunal.

have you been to tribunal in the first place? If no, please check out Amara Service Residence case with the developer.

The developer initially kept quiet about LAD, then owner ask about it, offer 50% off, then 70%.

Not happy, go tribunal fight 100%, some judge not consistent, some award SNP date, some award booking date, some award discounted price.

Keep it short, it depends on the judge. If the judge is crazy, he might award you from your booking date instead of SNP instead.

If you get some fucked up judge, they just award you the discounted price.

You think you're the only one who pays interest after DIBS expired?

thx for sharing this info. these inconsistencies in judgement are alarming. funny how they don't follow precedents.

Last time yes the judge inconsistent...that's the feedback i got from tribunal. But now, already FIXED. Purchase Price. Already fixed and final call that Purchase Price is the one. Is up to you want to fight or not. It's not about 1-2k worth. It's about what's right and wrong !!!

Then please go ahead and share your feedback on this thread. Good luck.

Before you even thinking of going to tribunal, please check and make sure the project is under Schedule H. From your LAD 8% i am quite certain this is another version of SOFO/SOVO that u bought. MCT sold a lot of such projects. Schedule H the LAD is 10% for parcel + another 10% of balance 20% purchase price for the common area deliveries.

Otherwise you might just waste gas.

If that is the case, you can't go to tribunal. It is either you group together with all buyers and bring them to court (after the risk vs reward analysis) or just accept the payment and move on with your life.

This post has been edited by gks: Apr 1 2015, 10:24 AM

Don't just seek the balance 2%. Since u wanted to bring it to court, u make sure u sue together with Interest Rate and other inconvenience that causes u.

TS states that he wants to seek advice, but apparently not accepting any. So let him do his way. Some people need to get it the hard way only will listen.

Yes it's unethical of MCT yada,yada,yada. Suck it up and move on. Point is already delivered across so there is no point going further to waste time.

He may not even qualified to go to Housing tribunal if what he bought is not under Sch H. i am amazed with so many ignorance property buyers.

Good luck.

MCT The Place is SOHO which is under HDA. I hope I'm not wrong.



This post has been edited by 1282009: Apr 1 2015, 08:39 PM

I agreed.

If TS is getting the LAD payment for 5 full months (up to the registered VP letter or there about), it's already good. I got LAD recently from 1 developer who only paid the LAD on the property but not on common facilities claiming that the facilities are already completed on time (but I can't use them because the overall property is not ready yet!). I saved my time arguing because the amount different is <2k.

However if MCT only pays TS 50% of his deserved LAD then it's really bad! Such practice should be highlighted & made known to all.



This post has been edited by 1282009: Apr 1 2015, 08:48 PM

From my shallow knowledge, it is not sch H despite Soho.

Ts, please share with us when there a resolution, I believe many forumer will want to learn too

im not sure about the judge, but i've contacted the tribunal legal department before, and the lawyer i had spoken to for advice was unknowledgeable. i bet she is a fresh grad or something.

1. i mentioned to her about SPA, and she asked me what is SPA. i told her it's Sales and Purchase Agreement, and she said... that is SNP, not SPA.

2. she told me serviced apartment (which indicated in the SPA, is under Schedule H) is not under the Housing Tribunal responsibility.

3. i think i created a ticket or something in some govt portal related to housing, but no reply at all for > 1yr.. and yet, we need to pay GST for their pay rise.

This post has been edited by den: Apr 1 2015, 10:35 PM

They usually answer my calls.

+1

sorry about necro, so ts how's the outcome?
You won or just accept the lad proposed by mct?

Aiyo just let go la....most developers like tat but frum my life experience if u calculate every sen u cannot see BIG MONEY becoz yur mind wasted on small.2 calculative stuff...end up counting less and less money ..the more u count the less the money coz u wasted time counting instead of using yur brain how to make big money

As the Kwailo said Penny wise pound foolish